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Nokia willing to sell patents if the price is right
Nokia chief financial officer Timo Ihamuotila pointed out that his company would be willing to sell some of their patents if the price was right. The admission came during a conference call pertaining to a second-quarter profit warning and the announcement of a restructuring effort that took place yesterday.
The executive said that Nokia would be able to sell patents while still maintaining a strong portfolio of intellectual property. This seems like a fair assessment as the communications corporation owns around 30,000 patents and an additional 10,000 patent innovations. They typically pump out around 1,000 new patentable innovations each year.
The idea to sell patents for quick cash is a direct result of the restructuring effort that was announced yesterday. In it, Nokia said they would be cutting 10,000 jobs or the equivalent to nearly 20 percent of their global workforce by the end of 2013. A handset factory and several research centers are among the physical casualties of the plan.
Nokia share prices continue to fall as multiple ratings agencies have moved the stock to non-investment grade status. The latest to do so is Moody’s with a “junk” rating citing concern over their cash position and slow adoption of Windows phones.
"Today's rating action reflects our view that Nokia's far-reaching restructuring plan... delineates a scale of earnings pressure and cash consumption that is larger than we had previously assumed," said Moody's analyst Wolfgang Draack.
Reuters points out that at least 10 other brokerages have cut price targets on Nokia’s shares based on the fact that they have lost 50 percent of their value since the beginning of 2012.
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User Comments: 7
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I always thought the quality of Nokia hardware was top notch, but their software lacked... So I decided to bite the bullet and buy a Nokia Lumia 800 with windows phone 7.5. I have to say I'm not disappointed. So I dunno, but I think their new line of smartphones is pretty good.
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Well the smart phone market is dominated by Samsung and Apple these days . Nokia is struggling in this cut throat competition ... Nokia had suffered a net loss of $1.2 billion in the first three months of the year, blaming tougher-than-expected competition in the smartphone market and just compare that to last years profit of $300 million . I guess Nokia undoubtedly, made good 'Feature phones' but not 'Smart phones' . And now selling of patents, I don't know whether that will be really good for Nokia in the long-run ...
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I always thought the quality of Nokia hardware was top notch, but their software lacked... So I decided to bite the bullet and buy a Nokia Lumia 800 with windows phone 7.5. I have to say I'm not disappointed. So I dunno, but I think their new line of smartphones is pretty good.
Too bad the ecosystem is pretty bad, and with all these news about Nokia, the worst is coming. Nokia is in survival mode right now.
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Both Nokia and RIM should die because they would deserve to since they sat on their hands and failed/refused to innovate and thought that their once top position would be secure without them doing ANYTHING.
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Nokia should die, just because the deal they did with Microsoft. They should have let customers choose between WP7 and Android. That way they could have sold a lot of phones to people with WP7 and a lot more to Android users.
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Nokia should die, just because the deal they did with Microsoft. They should have let customers choose between WP7 and Android. That way they could have sold a lot of phones to people with WP7 and a lot more to Android users.
I see where you're coming from but there are SO MANY companies to choose from when selecting an Android phone, that it doesn't seem liked Nokia was a huge loss. Then again, not many companies can compare to their innovations and hardware. And if you're wondering, yes Nokia for many years had created phones and technologies that were way ahead of their time. Still amazes me sometimes.
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Europe and the USA are jacking off to the likes of Android and crApple for no apparent reason.
Nokia and RIM are quite strong in other geos.
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